Form 4: Roblox Corp Executive Mark Reinstra Reports Stock Sale to Cover Tax Obligations

Mark Reinstra, General Counsel & Secretary of Roblox Corp, reported selling shares to cover tax obligations related to vesting Restricted Stock Units (RSUs).

Summary

• On May 21, 2024, Mark Reinstra, General Counsel & Secretary of Roblox Corp, sold 16,797 shares of Class A Common Stock at an average price of $32.559 per share.
• The sale was to cover statutory tax withholding obligations related to the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Reinstra directly owns 342,656 shares of Class A Common Stock.
• Reinstra also has indirect ownership of shares held in various trusts, including the San Domenico Trust (72,058 shares), the Mark L. Reinstra 2023 Annuity Trust (40,000 shares), the Mark L. Reinstra 2022 Annuity Trust (22,364 shares), the Susan P. Reinstra 2022 Annuity Trust (22,364 shares), and the Susan P. Reinstra 2023 Annuity Trust (40,000 shares).

Sentiment

Score: 5

Explanation: This is a neutral event. An executive selling shares to cover taxes is a normal occurrence and doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are a routine part of the US stock market and are required by the SEC to ensure transparency of insider transactions. This filing indicates that an executive sold shares, likely to cover tax obligations, which is a common practice.

Key Dates